Turkey's Tav 1q Net Loss Narrows
Turkish airport builderoperator TAV Havalimanlari Holding AS (TAVHL.IS) Tuesday said its first-quarter net loss narrowed to 31.9 million Turkish lira ($21.2 million).
The consolidated result compares with a net loss of TRY61.9 million in the first quarter of 2009.
According to the Istanbul Stock Exchange website, the company's income from sales fell 38% on the year to TRY286.1 million in the first quarter from TRY460.8 million.
Its operating profit also fell to TRY898,851 from TRY4.7 million during the same period.
However, TAV's financial income rose 10.3% on the year to TRY9.3 million in the first quarter from TRY8.449, while its financial costs fell to TRY42.2 million from TRY61.9 million.
At 1200 GMT TAV's shares were trading 6.62% lower from Monday at TRY7.05 amid a 1.30% lower overall market.
(SB-SB-ENG)
